Is your affinity for a pick up truck derailing your retirement plans?

tumorboy

HR Legend
Gold Member
Sep 24, 2002
18,020
17,343
113
Unless you're a contractor, farmer, etc. Don't see why u would finance one.
 

Bank of Hawk

HR All-American
Gold Member
Feb 24, 2007
3,247
1,493
113
I love my Silverado but I was fully aware it was a poor financial decision. There should be some balance with enjoying things today and planning for the future.

The family in the article clearly has f’d themselves hardcore with their debt over load- hard to feel for people who get themselves in that kind of debt.
 

Fijimn

HR Heisman
May 7, 2008
6,155
10,010
113
Last year or the year before, we bought a small truck to use as a utility vehicle. Really enjoyed having it and started looking at trucks to replace my car. The pre-covid price for full-sized new trucks was higher than I expected and there wasn't a lot of willingness to move down on price.
 

OrlandNole

HR All-American
Nov 29, 2003
3,113
5,901
113
Nashvegas
I guess I don’t understand why in the example the author used, the truck loan is egregious but the Infiniti payment isn’t? I believe the truck will hold its value a little better than the Infiniti , no?
Yeah, it seems odd that they focus on pickups, which other vehicles like SUVs are more ubiquitous and expensive.
 
  • Like
Reactions: Sooner-Be-Dead

Hawki97

HR All-American
Gold Member
Dec 16, 2001
4,003
2,621
113
Iowa City, IA
Yeah, it seems odd that they focus on pickups, which other vehicles like SUVs are more ubiquitous and expensive.
It’s just a retread of the have nice things now vs saving for retirement argument. As in all things, I think it’s a compromise and one that should be managed based on the individual’s perspective, goals, and what they find important.
 
Feb 9, 2013
9,614
25,245
113
I guess I don’t understand why in the example the author used, the truck loan is egregious but the Infiniti payment isn’t? I believe the truck will hold its value a little better than the Infiniti , no?
Wondered about the Infiniti as well. Also, why does this couple have FOUR car payments? They sound like financial idiots.
 

Titus Andronicus

HR Legend
Gold Member
Sep 26, 2002
10,434
1,725
113
74
Las Vegas, NV
I do not know all of the background, but my understanding is that for the automakers, their pickup truck sales subsidize their smaller vehicle and automobile sales. ... They lose money on cars and make it up on trucks.

GM for example never did resolve their cost issues during their bankruptcy ten years back and because of higher (than the market rate) costs for labor cannot make cars at a profit. Trucks however are exempt from CAFE standards and can be built more cheaply. They make more on trucks than they lose on cars.

So ... in a sense, if you buy a truck that costs $17,000 to manufacture for $40,000, you are subsidizing someone else's purchase of a Hybrid or a regular sized car. (A GM factory worker quoted me the cost of building a truck and and that was five years ago, and I am sure it did not include overhead etc.)

I guess I would feel stupid for helping to pay for someone else's Volt.
 
Last edited:

Mountain Man Hawk

HR All-American
Gold Member
Mar 30, 2010
4,644
1,542
113
Pretty sure the F-150 is the most common vehicle on the road so that’s why in articles like this it’s more common to see that people are making payments on an F-150 as opposed to some other vehicle.

That being said, I do agree that for a lot of people their financial situation would be a lot better off if they didn’t keep getting a new vehicle every 5 years. A lot more people should be driving their old car/truck and take the money that would have been a car payment and use it to max out their savings.

Dave Ramsey and people like him love to point out that if you had invested that $500+ monthly payment instead you would end up with a million dollars by the time of your retirement.
 

kc78

HR All-State
Nov 25, 2002
907
1,876
93
42
Pensacola, FL
I really want a truck, but the prices they now cost are ridiculous. I don't need to haul a house, I just want to throw some stuff in the back every now and then. Someone really needs to come out with a smaller, lower cost truck.
 
  • Like
Reactions: Doodads and Hoohah

Whiskeydeltadeltatango

HR All-American
Mar 11, 2020
3,178
2,361
113
I really want a truck, but the prices they now cost are ridiculous. I don't need to haul a house, I just want to throw some stuff in the back every now and then. Someone really needs to come out with a smaller, lower cost truck.
You thinking new or used?
 

Run&Blade

HR Legend
May 6, 2005
35,623
18,504
113
I guess the people living in the skanky house with the $70k Suburban in the driveway are good to go.

old people that made poor life choices are the best workers at Walmart.

substitute truck with “too much house” boat, Harley, ect....
 
Last edited:
  • Like
Reactions: NDallasRuss

Mountain Man Hawk

HR All-American
Gold Member
Mar 30, 2010
4,644
1,542
113
I really want a truck, but the prices they now cost are ridiculous. I don't need to haul a house, I just want to throw some stuff in the back every now and then. Someone really needs to come out with a smaller, lower cost truck.
All of the truck companies also have a mid-sized truck line. So you could get a Tacoma instead of a Tundra, or a Ranger instead of an F-150, etc.
 

lucas80

HR King
Gold Member
Jan 30, 2008
71,047
74,137
113
I have a co-worker who is retiring in a year or two. Part of his plan to stay active will involve buying a brand new pick up with an 8 foot bed, and doing the pick up truck equivalent of Uber, where you hire yourself out for minor hauling jobs. I told him he's insane. He already had a three year old Ford, and a 2000 something Chevy (Pronounced Chivy).
 

lucas80

HR King
Gold Member
Jan 30, 2008
71,047
74,137
113
Mrs. Lucas and I still have the dream of buying a 17-21 foot camper, and a lightly used pick up to see the US in. No way we'd buy brand new. We'll piss away money on the camper she wants, but not on the truck.
 

ICHawk-I

HR Heisman
Gold Member
Nov 24, 2004
6,511
11,187
113
I know way too many guys who work office jobs and don't have toys (boats, campers, etc) to haul that have these fully loaded trucks that they keep immaculately clean. A couple even refuse to put anything in the bed for fear it will scratch the coating. I don't get it one bit given how much they cost.
 

NDallasRuss

HR Legend
Dec 5, 2002
28,479
7,506
113
I guess the people living in the skanky house with the $70k Suburban in the driveway are good to go.

old people that made poor life choices are the best workers at Walmart.

substitute truck with “too much house” boat, Harley, ect....
“The Denton, Texas, couple pay $4,400 a month on their mortgage, four car loans and leases..."

Yeah, these people are friggin idiots! 2 people with 4 car loans??
 

Herky T Hawk

HR All-American
Feb 5, 2003
4,577
1,870
113
All of the truck companies also have a mid-sized truck line. So you could get a Tacoma instead of a Tundra, or a Ranger instead of an F-150, etc.
And if you don’t care about the looks or need to tow a house, get a Ridgeline. The ride quality, back seat space, and trunk(yes that is correct) are amazing compared any other mid-size truck. They aren’t cheap though, starting around $30k new with trim levels pushing up into the low to mid 40s.
 

Run&Blade

HR Legend
May 6, 2005
35,623
18,504
113
“The Denton, Texas, couple pay $4,400 a month on their mortgage, four car loans and leases..."

Yeah, these people are friggin idiots! 2 people with 4 car loans??
Kids can’t pull into school with some used piece of shit. Good lord man, social media isn’t something to ignore.
 
  • Like
Reactions: NDallasRuss

kc78

HR All-State
Nov 25, 2002
907
1,876
93
42
Pensacola, FL
All of the truck companies also have a mid-sized truck line. So you could get a Tacoma instead of a Tundra, or a Ranger instead of an F-150, etc.
You're still paying 35k if you want something new with extended cab. If you only need 2 seats you can probably get affordable, but unfortunately I have kids. But even used is still 25k or more.
 

runkpanole

HR All-American
Nov 17, 2002
4,530
5,617
113
I’ve had my Chevy Malibu for 11.5 years now. I bought it for about $23K. It’s been a good car, but man do I want a truck. I’ll be chilling with the Malibu for at least another year though. Damn wife (no pic) is to practical and pointed out that it is long paid off and we are driving a lot less these days.